Sachin Bansal sells Navi’s microfinancing unit for $178.5 million

Svatantra Microfin has reached an agreement to acquire Navi Group’s microfinancing unit Chaitanya India for about $178.5 million, the two firms said Tuesday, latest in a series of events at entrepreneur Sachin Bansal’s firm that has struggled to secure a banking license.
Svatantra said it will become the second largest microfinancing firm in India with a reach of over 3.6 million active customers across 20 states with the Chaitanya acquisition. The combined entity will have about $1.5 billion assets under management.
“This transaction is in line with our strategic plan to foc

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